Street's last remaining bank branch is set to close, with Lloyds confirming it will shut its doors — though a new shared banking hub has now been approved for the village.

A date for the closure has not yet been confirmed.

The move will mark the end of traditional standalone bank branches in Street. However, LINK — the UK's cash access and ATM network — has confirmed the village has been recommended for a banking hub to help maintain access to cash and in-person services.

Banking hubs are shared facilities designed to provide core counter services previously offered by high street banks. When opened in Street, the hub will allow customers of any bank to withdraw and deposit cash, as well as pay bills.

The hub will also include private meeting rooms, where customers can speak to community bankers from their own bank for more complex or sensitive matters. Staff from different banks will attend on a rotating basis.

The facility will be delivered by Cash Access UK, which is expected to begin engaging with the local community and identifying a suitable location in the coming weeks.

Chris Ashton, LINK's chief commercial officer, said: "While more people are choosing to bank and pay for things digitally, we know that many people still rely on and choose to use cash.

"That's why we're delighted to recommend the new hub in Street. When it opens, the Street banking hub will be vital for the local community and high street."

advertisement

Street is the sixth location in Somerset to be recommended for a banking hub as part of efforts to maintain access to cash services amid ongoing bank branch closures.

More local stories:

• Street homes plan revived for back gardens on Orchard Road

• Somerset Council denied permission to raise Council Tax above cap

Sign up to our free local newsletter — Our top stories in your inbox every Friday.